─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Grazeley

FRS 105 Micro Entity Accounts are the financial statements prepared under the UK micro-entities regime — the simplest reporting framework available to qualifying companies. Where a company qualifies for the micro-entities regime and chooses to apply it, FRS 105 sets out how the accounts should be drawn up: typically on a historical cost basis, with a reduced level of disclosure and a simplified format for the balance sheet and profit and loss account. Professional preparation helps ensure the figures are taken correctly from your accounting records, that the presentation is appropriate for the micro-entities regime, and that the accounts are consistent with the information filed at Companies House. At Micro Entity Accounts, we work with companies in Grazeley to prepare FRS 105 Micro Entity Accounts that reflect the company’s actual circumstances, and we always confirm whether the regime appears to be available before any work begins.

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FRS 105 Micro-Entity Accounts

(Turnover up to £100K)

£499.00

£399.00

+vat

FRS 105 accounts preparation
Accounting records review
Micro-entity eligibility review
Companies House filing where applicable
Corporation Tax support where included
Director review
FRS 105 accounting support

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Trusted by Micro-Entity Businesses Across the UK

From newly incorporated companies to established owner-managed businesses, our clients trust us to prepare their accounts accurately and handle their annual filing requirements.

      EXCELLENT  
   Based on 302 reviews 
    
 
 
 
   
 
 
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   Ayotunde Rufai 
 
 
 
 Trustindex verifies that the original source of the review is Google. Best accountants we've ever had. Umer is ace, and makes everything easy and transparent.
  
 
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   Sofia 
 
 
 
 Trustindex verifies that the original source of the review is Google. I had a really positive experience with Muhammad. He was incredibly quick to action everything and made the whole process straightforward and stress-free. He took care of everything promptly and kept me informed throughout, which was greatly appreciated.

Muhammad was professional, responsive and genuinely helpful from start to finish. It was clear that he cared about providing a great service and making sure everything was handled properly. I would definitely recommend him to anyone looking for someone reliable, efficient and professional.
  
 
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   Zest For Life 
 
 
 
 Trustindex verifies that the original source of the review is Google. I worked with Accotx on a HMRC reclaim and overall, they did ultimately deliver on their promise, which I appreciate. The process did take longer than any of us expected, partly due to external delays with the tax authorities, and partly because there were some hiccups in communication and follow-up. However, despite those challenges, they stayed professional and stuck to the original agreed terms. If you’re considering using them, be prepared to stay in regular contact to keep things moving along. They are absolutely capable, have the expertise and willing to work with you, and overall  improving their services over time. I would certainly return for any future needs.
  
 
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   Pete Wrist 
 
 
 
 Trustindex verifies that the original source of the review is Google. Sterling work. Many thanks to Muhammad and the team for all their help and expertise
  
 
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   Hansen Personal Training 
 
 
 
 Trustindex verifies that the original source of the review is Google. We have been a client for years - very quick responsive and personalised service
  
 
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   Jamie Fletcher 
 
 
 
 Trustindex verifies that the original source of the review is Google. It was a pleasure working with Anum on our accounts. The whole process was swift and effortless, and it was one less thing to worry about. I'd highly recommend them.
  
 
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   Mansur Liman 
 
 
 
 Trustindex verifies that the original source of the review is Google. Accotax have been our accountants for many years now. We maintained them, because of their professionalism. In the last coiple of years, i have working with Imran, who has been very professional and helpful in guiding us through the whole process explaining and clarifying every aspect of it. Very prompt in responding to questions and patient with us even when we seem to be slow. I really enjoy working with him. Thank you
  
 
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   Muna Mohamoud 
 
 
 
 Trustindex verifies that the original source of the review is Google. I highly recommend Imran to anyone looking for a reliable and knowledgeable accountant. He helped me sort out a very complicated backlog of accounts and prepared my overdue tax returns with professionalism and attention to detail.

Throughout the process, he was incredibly patient, took the time to answer all of my questions, and explained everything clearly. He guided me through each step and helped rectify issues that had built up over time, making what felt like an overwhelming situation much more manageable.

I'm very pleased with the service I've received and truly appreciate his support. If you need help with your accounts or taxes, I would highly recommend Imran.
  
 
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   Sergey M 
 
 
 
 Trustindex verifies that the original source of the review is Google. I had a positive experience with Accotax. The work was completed promptly, my tax return was successfully filed, and I received a refund of overpaid tax. I found the cooperation efficient and helpful. Special thanks to Muhammad Saifullah for his assistance.
  
 
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   Ebba Qureshi 
 
 
 
 Trustindex verifies that the original source of the review is Google. Fabulous team at ACCOTAX - very efficient and good response time . Honest and professional with their work. I would highly recommend them even if you’re a young start up - or a large business they have it covered .

─── FRS 105 EXPLAINED

FRS 105 Explained: What It Means for Qualifying Micro-Entities

FRS 105 — formally, the Financial Reporting Standard applicable to the Micro-entities Regime — is the accounting framework that applies when a qualifying company chooses to use the UK micro-entities regime. In plain terms, it is a simplified set of rules for preparing financial statements. The accounts are prepared on a historical cost basis, assets are generally not revalued, and there is no requirement to recognise deferred tax. The number of disclosures is also reduced compared with larger reporting frameworks, which means the financial statements are shorter and more straightforward to read. It is worth being clear about what FRS 105 is not: it is an accounting and financial reporting framework, not a tax regime, so it governs how the accounts are drawn up rather than how much tax a company pays. It is also optional. A company that qualifies for the micro-entities regime can choose to apply it, and FRS 105 applies when that choice is made — some qualifying companies instead prepare accounts under FRS 102, often because a lender, investor or group parent wants more detail.

Who Can Use FRS 105 in the UK? Qualifying for the Micro-Entities Regime

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it — it is not open to every small company. Qualification starts with size. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 applicable conditions: turnover of no more than £1 million, a balance sheet total of no more than £500,000, and an average of no more than 10 employees. Meeting those conditions is important, but it is not always the end of the matter. Other eligibility rules and exclusions apply, and some entities are excluded from the micro-entities regime altogether regardless of how small they are, so the size tests alone do not guarantee that a company can use FRS 105. Qualifying companies also have a genuine choice: the micro-entities regime is an available accounting regime rather than a requirement, and FRS 105 applies when that regime is chosen. If you are unsure where your Grazeley company stands, we can review your circumstances and explain the position before any accounts are prepared.

A company generally needs to meet at least 2 of these 3 conditions.

Business Turnover

Annual Turnover of £1 Million or less. (£632,000 previously)

Balance Sheet

Balance sheet total of £500,000 or less.(£316,000 previously)

Company Size

On an average 10 or less employees (10 or less previously)

─── What We Review

Everything Your Micro-Entity Company Is Required to Get Right

Most compliance problems are not deliberate. They come from a missed deadline, an accounts template that no longer matches FRS 105, or dividends taken without the paperwork to support them. Our review covers each area in turn and reports back in plain English.

FRS 105 Balance Sheet

A statutory balance sheet prepared to the FRS 105 format, using the reduced disclosure the micro-entities regime allows.

Profit & Loss Account

A profit and loss account prepared for your own records and for your Corporation Tax computation, without public filing.

Required Notes & Disclosures

Preparation of the notes and disclosures required for the company's accounts under the applicable reporting requirements.

Corporation Tax Support

Separate Corporation Tax support can be provided where included in the agreed service. The Corporation Tax calculation is governed by tax rules rather than FRS 105.

Companies House Filing

Your FRS 105 accounts filed with Companies House in the correct format, before your accounts filing deadline.

Director Copy Pack

A full signed copy of your accounts and tax return, ready for your bank, mortgage lender or accountant records.

─── How It Works

How Our FRS 105 Preparation Process Works

Share Your Records

Send your bank statements, sales and purchase records, expenses and payroll details through our secure digital platform.

We Prepare Your FRS 105 Accounts

Our accountants confirm you qualify for the micro-entities regime, then prepare your accounts and CT600 from your records.

Review & Approve

We send draft accounts with clear explanations of the figures, and adjust anything before anything is submitted.

We File Where Required

Once approved, we can assist with the relevant Companies House filing and any separately agreed tax submission.

─── WHY CHOOSE US

Why Choose Our FRS 105 Accountants?

We keep micro-entity accounts straightforward, transparent and easy to manage for busy company directors.

FRS 105 Accounts Support

The micro-entities regime is all we do, so your accounts are prepared to the right standard first time.

Paperless Onboarding

Get set up in minutes with a fully digital, secure process — no printing, posting or office visits.

Deadline Management

We track your Companies House and HMRC deadlines and prompt you early so late filing penalties are avoided.

Clear, Transparent Pricing

One transparent fixed fee covers preparation, the tax return and both filings. No hourly billing.

─── WHO WE HELP

FRS 105 Support for Micro-Entities Across the UK

From one-director businesses and freelancers to startups, consultants and online businesses that qualify for the micro-entities regime.

One-Director Companies

Straightforward FRS 105 accounts and Corporation Tax filing for owner-managed limited companies.

Freelancers & Contractors

Accounts and compliance support for contractors trading through a qualifying limited company.

Startups & Small Companies

Practical support for newly incorporated companies filing their first set of micro-entity accounts.

Dormant & Low-Activity Companies

Dormant company accounts and FRS 105 accounts for LLPs that meet the micro-entity thresholds.

Professionally Prepared FRS 105 Micro Entity Accounts for Grazeley Companies

Preparing FRS 105 Micro Entity Accounts is not simply a case of copying figures across from a bookkeeping system. The accounts need to be built up from the company’s financial records — bank statements, sales and purchase records, details of assets bought or sold, loan and finance agreements, and any other relevant supporting documents — and then presented in a format that meets the requirements of the micro-entities regime. Where judgements are needed, such as how a particular cost should be treated or when income should be recognised, those judgements should be made on the facts of the company’s own situation rather than on a generic template. It also helps to be clear about what each filing is for: the financial statements are prepared and then filed at Companies House, while Corporation Tax is handled separately through a Company Tax Return (CT600) submitted to HMRC. The two are linked by the underlying figures, but they are distinct filings with different purposes. We prepare FRS 105 Micro Entity Accounts for companies in Grazeley on a clear, transparent basis, with fixed-fee options where possible, so you know what to expect from the outset.

ICAEW

ACCA

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Talk to Us About Your FRS 105 Micro Entity Accounts in Grazeley

If your company may qualify for the micro-entities regime, or you are simply unsure whether FRS 105 Micro Entity Accounts are the right fit, get in touch. Tell us a little about your company — what it does, how long it has been trading, roughly what its turnover and balance sheet position look like, and when its accounting period ends. We can then review your circumstances and explain whether the micro-entities regime appears to be available to you, what information we will need to prepare the accounts, and how our clear, transparent pricing works. There is no obligation and no assumptions — just a straightforward conversation about your FRS 105 Micro Entity Accounts in Grazeley.

─── FAQs

FRS 105 Accounts Preparation FAQs

Still unsure where you stand? Reach out to our UK team at info@microentityaccounts.co.uk and we will review your filing history with you.

What is FRS 105?

FRS 105 is the UK financial reporting standard that applies to the micro-entities regime. It is designed for very small companies and takes a deliberately simplified approach: accounts are prepared on a historical cost basis, assets are generally not revalued, deferred tax is not recognised, and fewer disclosures are required than under fuller frameworks. It sets out how the financial statements are prepared — it does not determine how a company is taxed.

Who can use FRS 105?

FRS 105 is for companies that both qualify for the UK micro-entities regime and choose to apply it. Qualification is mainly about size, but also about the type of entity: certain companies are excluded from the regime regardless of how small they are. There is also a decision to make, because the regime is available rather than automatic, and some qualifying companies opt for a fuller framework such as FRS 102 instead.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime does not force a company to use it. The regime is an available accounting regime, and FRS 105 applies when the company chooses to apply it. A qualifying company might still prepare accounts under FRS 102 — for example, where a bank, investor or group parent wants more detailed information. Where a framework is chosen, it should generally be applied consistently.

What are the current micro-entity eligibility criteria?

For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 applicable size conditions: turnover of no more than £1 million, a balance sheet total of no more than £500,000, and an average of no more than 10 employees. The size conditions are not the whole test, however — other eligibility rules and exclusions can apply. It is worth checking your company's specific position for the relevant period rather than assuming it qualifies.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of entity. FRS 105 is the micro-entities standard: shorter, based on historical cost, with no revaluation or deferred tax and a reduced set of disclosures. FRS 102 is a fuller framework used by small and larger entities, permitting or requiring more accounting treatments and considerably more disclosure, and it also contains a reduced-disclosure option for small companies. The right framework depends on eligibility and on what the readers of the accounts need.

Do FRS 105 accounts need to be filed with Companies House?

In most cases, yes. A company that prepares its accounts under FRS 105 will normally file those accounts at Companies House, using the statutory accounts filing route and meeting the filing deadline that applies to that company. Micro-entity accounts can be filed in a simplified format, and the filing should reflect the accounts that have been prepared and approved. Filing the accounts does not settle the company's Corporation Tax position, which is dealt with separately.

Is a Corporation Tax Return (CT600) separate from FRS 105 accounts?

Yes, they are separate. FRS 105 Micro Entity Accounts are the financial statements — prepared under the micro-entities regime and normally filed at Companies House. A CT600 is a Company Tax Return submitted to HMRC to report the company's taxable profits and work out the tax due. Both usually start from the same accounting records, but they go to different bodies, use different forms and are subject to different deadlines, so each needs to be dealt with properly.

What information is needed to prepare FRS 105 accounts?

As a starting point, we would usually ask for the accounting period dates, access to your bookkeeping or accounting software records, bank statements for all accounts, details of any loans or finance agreements, information on fixed assets bought or sold, stock or work in progress figures where relevant, and details of amounts owed to or by the company at the period end. If the company is newly incorporated or has limited records, we can work through what is available and explain what else is needed. The aim is to build the accounts from the company's actual financial records rather than from estimates.